EverSource Wealth Advisors LLC Cuts Holdings in D.R. Horton, Inc. (NYSE:DHI)

EverSource Wealth Advisors LLC decreased its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,977 shares of the construction company’s stock after selling 2,411 shares during the period. EverSource Wealth Advisors LLC’s holdings in D.R. Horton were worth $6,414,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its position in D.R. Horton by 481.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 153,792 shares of the construction company’s stock worth $25,307,000 after acquiring an additional 127,320 shares in the last quarter. Cetera Advisors LLC lifted its stake in D.R. Horton by 139.8% in the first quarter. Cetera Advisors LLC now owns 25,382 shares of the construction company’s stock worth $4,177,000 after purchasing an additional 14,798 shares during the last quarter. Cetera Investment Advisers lifted its stake in D.R. Horton by 141.5% in the first quarter. Cetera Investment Advisers now owns 75,903 shares of the construction company’s stock worth $12,490,000 after purchasing an additional 44,468 shares during the last quarter. Atria Investments Inc lifted its stake in D.R. Horton by 36.1% in the first quarter. Atria Investments Inc now owns 61,729 shares of the construction company’s stock worth $10,157,000 after purchasing an additional 16,386 shares during the last quarter. Finally, Swedbank AB bought a new stake in D.R. Horton in the first quarter worth about $29,541,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BTIG Research decreased their price target on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. JMP Securities lifted their price target on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group lifted their price target on shares of D.R. Horton from $141.00 to $153.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Wedbush reaffirmed an “underperform” rating and set a $130.00 price target on shares of D.R. Horton in a research note on Thursday, April 18th. Finally, Barclays lifted their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, D.R. Horton has an average rating of “Hold” and an average target price of $175.60.

Insider Activity

In other news, Director Michael R. Buchanan sold 2,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $150.70, for a total transaction of $301,400.00. Following the sale, the director now directly owns 1,703 shares of the company’s stock, valued at $256,642.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.74% of the company’s stock.

D.R. Horton Stock Down 0.8 %

NYSE DHI traded down $1.43 on Friday, hitting $177.62. The stock had a trading volume of 3,179,679 shares, compared to its average volume of 3,294,546. The business’s fifty day moving average price is $151.03 and its 200 day moving average price is $150.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $185.43. The stock has a market cap of $57.88 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.83 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.90 earnings per share. Equities research analysts anticipate that D.R. Horton, Inc. will post 14.04 earnings per share for the current year.

D.R. Horton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

D.R. Horton declared that its board has initiated a share repurchase plan on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About D.R. Horton

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.